I am having the most difficult time trying to understand a problem with the formula a=pe^rt, where A=amount accumulated, p=principal, r=interest rate, and t=time in yrs.
What principal should be deposited at 7.405% to ensure the account will be worth $18,000 in 11 years

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18,000 = p(1+.07405)^11

So 18,000=(1p+7405p)^11, right?

First step would be to add (1 + .07405) to get 1.07405
Then take that to the ^11

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